4min chapter

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OPEC To The Rescue | Rory Johnston’s Cautious Bull Case For >$80 Oil

Forward Guidance

CHAPTER

The Opposite Indicator of Oil Prices

Long back, I believe it's always long, even during COVID. So there is this kind of long bias, but again, it's relative to what would normally be the case. On a mean reversion basis, your next likely move is going to be back towards that long-term trend. But on the flip side, if you're really overextended alongside, likely what will happen is that you kind of something happens and you trim those back.

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